Highest-materiality recent filing
Microvast CEO converts $25M loan to equity; CAO Eric Garcia departs
Eric N. Garcia ceased as Chief Accounting Officer on May 27, 2026; departure details not provided.
Microvast Q1 revenue down 48% to $60.6M; non-GAAP net loss of $14.6M
Revenue $60.6M, down 48% YoY from $116.5M; net profit $48.2M ($0.15 EPS) vs $61.8M ($0.19).
Full year net loss improved to $29.2M from $195.5M; non-GAAP adjusted net profit of $13.0M.
Microvast appoints Eric Garcia CAO and Rodney Worthen as permanent CFO
Eric Garcia appointed Chief Accounting Officer, effective Jan 9, 2026; base salary $350k, target bonus 50%, $100k RSU grant.
Microvast Q3 revenue record $123.3M (+21.6% YoY); GAAP net loss $1.5M, but adjusted EBITDA +$21.9M
Record Q3 revenue of $123.3M vs $101.4M a year ago, up 21.6%.
Microvast enters $125M ATM equity sales agreement with Cantor and Needham
Company may sell up to $125M of common stock on an at-the-market basis through Cantor Fitzgerald and Needham.
Microvast Q2 revenue $91.3M record, positive EBITDA $25.9M; adjusts gross margin guide
Revenue $91.3M (+9.2% YoY); gross margin 34.7% vs 32.5% YoY.
Microvast appoints Rodney Worthen as Interim CFO effective August 7, 2025
Appointed Rodney Worthen, VP of Corporate Strategy, as Interim CFO, effective immediately.
Microvast CFO Carl T. (Pat) Schultz ceases employment effective July 29, 2025
CFO Carl T. (Pat) Schultz ceased employment on July 29, 2025; no reason disclosed in filing.
Microvast Q1 revenue record $116.5M (+43% YoY); swings to GAAP net profit $61.8M
Revenue $116.5M, up 43.2% YoY; gross margin 36.9% vs 21.2% (15.7pp improvement).
Microvast appoints Pat Schultz as CFO; Fariyal Khanbabi departs April 7
Fariyal Khanbabi ceased as CFO on April 7, 2025; no reason given.
Microvast reports FY2024 revenue up 23.9% to $379.8M; net loss widens to $195.5M
Revenue $379.8M (+23.9% YoY); Q4 record $113.4M (+8.4% YoY).
Microvast restates Q2 and Q3 2024 results on Clarksville impairment error
Audit committee concludes Q2 and Q3 2024 financials no longer reliable due to errors in impairment of Clarksville, TN facility.
Microvast Q3 2024 revenue $101.4M (+26.6% YoY); net profit $13.2M vs Q3 2023 loss
Revenue $101.4M (+26.6% YoY); gross margin expanded to 33.2% from 22.3%.
Nasdaq granted Microvast until March 24, 2025 to meet the $1.00 minimum bid price requirement.
Microvast CFO Yaser Ali resigns effective immediately; search for successor launched
Yaser Ali resigned as CFO on August 19, 2024, effective immediately.
Microvast Q2 revenue rises 11.6% to $83.7M but net loss widens to $78.4M
Record Q2 revenue $83.7M (+11.6% YoY); gross margin rose 17.2 ppt to 32.5%.
Microvast appoints Yaser Ali as CFO effective July 5, 2024
Yaser Ali appointed Chief Financial Officer, effective July 5, 2024.
Microvast enters $25M loan with CEO; warrant for 5.5M shares at $2.00
$12M initial term loan funded; $13M delayed draw available until July 8, 2024.
Microvast Q1 revenue surges 73% to $81.4M; gross margin doubles to 21.2%
Revenue $81.4M (+73.2% YoY); gross margin 21.2% vs 10.3% in Q1 2023.
Microvast CRO departs; Nancy Smith appointed Interim CFO effective Apr 29, 2024
Sascha Kelterborn ceased as Chief Revenue Officer effective April 26, 2024.
Microvast CFO Craig Webster transitions to Special Advisor; equity awards to vest upon separation
CFO Craig Webster ceased role effective Apr 10, 2024; will serve as Special Advisor to CEO through Apr 10, 2025.
Microvast reports FY 2023 revenue up 49.9% to $306.6M; Q4 revenue record $104.6M
FY 2023 gross margin improved to 18.7% from 4.4%; Q4 gross margin 22.0% vs 3.4%.
Microvast receives Nasdaq deficiency notice for bid price below $1 per share
Nasdaq notified Microvast on March 26, 2024 that common stock bid price averaged under $1 for 30 consecutive trading days.
Microvast files Section 205 petition to validate SPAC extension amendment; hearing March 18
Filed Section 205 petition in Delaware Court of Chancery on Dec 13, 2023, to validate extension amendment and business combination.
Microvast Q3 revenue $80.1M, up 107.5% YoY; gross margin jumps to 22.3%
Revenue $80.1M (+107.5% YoY); gross margin 22.3% (vs 5.2%), adjusted 24.2%.
Microvast Q2 revenue $75M, up 16%; gross margin 15.3%; backlog record $676M
Revenue $75.0M (+16.4% YoY), beating guidance; gross margin 15.3% vs 7.5%.
Microvast Q1 revenue $47M (+28% YoY); net loss narrows; raises FY23 guidance to 70-80% growth
Revenue $47.0M (+28.1% YoY); GAAP gross margin 10.3% (vs 0%); adjusted gross margin 13.5%.
Microvast FY2022 revenue up 35% to $204.5M; backlog surges to $410.5M; guides 65-75% growth in 2023
FY 2022 revenue $204.5M (+35% YoY); net loss narrowed to $158.2M from $206.5M.
Microvast wins 1.2GWh battery storage supply contract for US solar co-located project
Microvast to supply ME-4300 BESS containers (4.3MWh each, >10,000 cycles) for a 1.2GWh utility-scale project co-located with solar in the US.
Microvast Q3 revenue up 4.7% to $38.6M; gross margin improves to 5.2% from -97.3%
Net loss narrowed to $36.5M from $116.5M; non-GAAP adj. net loss $17.4M vs $65.1M.
Microvast and GM selected for $200M DOE grant to build U.S. separator plant
Microvast subsidiary selected by U.S. DOE for $200M grant under Bipartisan Infrastructure Law.
Microvast selected for $200M DOE grant for polyaramid separator plant
Microvast's proposal chosen for $200M grant from DOE Battery Materials Processing initiative.
Microvast subsidiary enters RMB 800M syndicated loan for Huzhou battery plant expansion
Loan up to RMB 800M (~$111.1M) at floating rate LPR+115bp, initial ~4.8%, maturity through Dec 2026.
On May 27, 2026, Eric N. Garcia ceased to be employed as Chief Accounting Officer of Microvast Holdings, Inc. (the “Company”).
On April 7, 2025, Fariyal Khanbabi ceased to be employed as Chief Financial Officer of Microvast Holdings, Inc.
On April 3, 2025, the Company made an offer of employment to Carl T. “Pat” Schultz pursuant to which Mr. Schultz will serve as the Company’s Chief Financial Officer
Lu Gao resigned from her role as the Company’s Chief Accounting Officer, effective January 31, 2025
the Company’s Board of Directors appointed Fariyal Khanbabi, the Company’s Chief Financial Officer, to serve as the Company’s Principal Accounting Officer.
On October 14, 2024, Microvast Holdings, Inc. (the “Company”) entered into an employment offer letter with Fariyal Khanbabi pursuant to which Ms. Khanbabi will serve as the Company’s Chief Financial Officer (the “Offer Letter”).
On August 19, 2024, Yaser Ali resigned from his role as Chief Financial Officer of Microvast Holdings, Inc. (the “Company”), effective immediately.
On August 16, 2024, Yanzhuan Zheng submitted his resignation from the Board of Directors of Microvast Holdings, Inc. (the “Company”), effective no later than the Company’s 2024 Annual Meeting of Stockholders.
On July 10, 2024, Yeelong Tan Balladon submitted her resignation from the Board of Directors and as a member of the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee of the Company, effective no later than the Company’s 2024 Annual Meeting of Stockholders.
On July 7, 2024, Stephen A. Vogel submitted his resignation from the Board of Directors and as a member of the Compensation Committee and the Nominating and Corporate Governance Committee of Microvast Holdings, Inc. (the “Company”), effective July 7, 2024.
On June 28, 2024, Microvast Holdings, Inc. (the “Company”) approved the appointment of Mr. Yaser Ali to Chief Financial Officer of the Company, effective July 5, 2024.
On April 29, 2024, the Board of Directors (the “Board”) of the Company approved the appointment of Ms. Nancy Smith, the Company’s Director of Internal Audit, to Interim Chief Financial Officer of the Company, effective immediately.
Max materiality 0.85 · Median 0.65 · Most common event leadership